Connect with us

Hi, what are you looking for?

CleanTechnica

Biomass

1 Gigawatt Renewable Energy Auction Planned For Argentina

Originally published on Planetsave.

Argentina has opened its first auction for the acquisition of renewable electricity.

Argentina flag shutterstock_360629600

According to pv magazine, Argentina’s President, Mauricio Macri, has announced the opening of an auction for 1 gigawatt (GW) of renewable energy capacity. The auction targets adding a renewable portfolio into this nation’s energy mix by summer of 2017/2018, and with a deadline of March 21, 2018.

According to press information, provisional specifications will be published in one month, and interested companies will have an opportunity to comment on them. In June, the definitive terms of the auction are slated to be published. This will be managed by Cammesa, a public company administering the larger Argentine electricity market. The close of offers is planned for August, with completion of the auction scheduled one month later.

“Without knowing the final conditions, it is believed that new solar, wind, biomass and small hydro projects between 10 and 40 MW will be eligible to participate. With a target price of US$100 per megawatt-hour, it is expected that “roughly half of the capacity will be provided by wind parks”, as Argentine Minister of Mines and Energy Juan José Aranguren indicated recently in Houston, Texas.”

The government announcement represents the first call for an auction in Argentina since the October 2015 approval of the law of Renewable Energies, under which 20% renewable energy is planned for the nation’s energy mix by 2025. The law also mandates that 8% of electricity consumption come from renewable sources in 2017, a relatively high bar to achieve. Today, only 1.8% of the electricity in Argentina is generated using renewable energy.

But since assuming the presidency last December, Macri has shown a strong backing for renewable energy. In March, mechanisms were set to reach green objectives with the publication of decree 531/2016. This law plans for auctions to reach the 10 GW of potential necessary to achieve the renewable energy objective in 2025, among other mechanisms.

President Marci also expects the 1 GW auctioned will mobilize an investment of around $2 billion, while around 3 GW are expected to be auctioned in the next two years, which could mean an investment of around $5 billion.

Other South America nations are in the midst of conducting similar clean electricity auctions.

Image via Shutterstock

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

is a writer, producer, and director. Meyers was editor and site director of Green Building Elements, a contributing writer for CleanTechnica, and is founder of Green Streets MediaTrain, a communications connection and eLearning hub. As an independent producer, he's been involved in the development, production and distribution of television and distance learning programs for both the education industry and corporate sector. He also is an avid gardener and loves sustainable innovation.

Comments

You May Also Like

Cars

By Juan Diego Celemín Mojica “Passionate for all things Latin American, I’ve been closely following the energy and mobility transitions since they started to...

Batteries

To mitigate the worst impacts of climate change, we must transition away from fossil fuels like petroleum and coal and toward clean energy generation...

Batteries

In good news for the Australian mining industry, miners produced 55,000 tonnes of lithium in 2021, a 28% increase from the 39,700 tonnes of...

Cap And Trade

The following is an excerpt from a new CleanTechnica report, The Carbon Cure: Effective Actions to Combat Climate Change through Carbon Markets. For more on the types of...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.